Aquaculture vaccines offer superior protection against contagions and do not project any adverse effects related to antibodies like resistance and disease recurrence.
Aquaculture vaccines offer superior protection against contagions and do not project any adverse effects related to antibodies like resistance and disease recurrence. Prevailing instances of viral and bacterial infections across the globe will drive the aquaculture vaccines market forecast in the coming years. There is also a higher preference for vaccinations in comparison to antibiotics to counter these ailments.
A rise in R&D activities by manufacturers has led to innovations as well as the enhanced production of advanced and complex vaccines. Various programs initiated by several government and private institutes to increase the capital funds has also paved the way for the aquaculture vaccine development.
Estimates suggest that the global aquaculture vaccines market share could reach an annual value of over USD 290 million by 2025.
Need for protection against viral infections
Annual revenue from inactivated aquaculture vaccines crossed USD 158.2 million in the overall market in 2018. This can be owed to the rapid and strong immune response offered by these vaccinations. The emergence of novel and advanced inactivated vaccines used in the treatment of complex bacterial and viral infections will favor the market growth.
Demand for aquaculture vaccines to tend to viral diseases accounted for a 15.8% industry share in 2018 and the market value is likely to reach a significant level through 2025, with the prevalence of infectious salmon anemia (ISA) and infectious pancreatic necrosis (IPN). The National Institute of Health (NIH) revealed that viral diseases ranked second among the most prevailing disease that contributes to more than 23% of the overall cases in fish farming across the globe.
Demand for economic benefits
The tilapia aquaculture vaccines market is anticipated to cross USD 45.5 million in global remuneration by 2025. There is a prominent demand for tilapia fish species in the international landscape owing to its economic importance. The Food and Agriculture Organization of the United Nations (FAO) had stated that the tilapia in the year 2015 accounted for 7.4% of the total aquaculture production and can be regarded as the second most vital of all the finfish species across the globe. Besides, the production of tilapia involves easy cultural techniques and short time duration.
Industry share of immersion fish vaccines is projected to hit a 6.7% CAGR through the next few years due to their ease of administration and effectiveness. The growth can also be attributed to the strong and long-lasting immune response induced in the fishes in instances of direct exposure of their immune cells placed in the gills and skin towards antigens.
To access sample pages of this report titled, “Aquaculture Vaccines Market Size By Type of Vaccines (Inactivated Vaccines, Live Vaccines), By Route of Administration (Immersion Vaccines, Injection Vaccines), By Application (Bacterial Infection, Viral Infection), By Species (Salmon, Trout, Tilapia), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
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U.K. and China to see a considerable footprint
U.K. is a prominent market for aquaculture activities and witnesses a high demand for vaccinations. The regional industry contributed to a significant revenue in 2018 and is expected to bring a global share close to USD 29.2 million through 2025, considering the surge in the number of novel vaccines introduced to cater to the increasing requirements to protect the fish species. Preference for vaccines over antibiotics and the robust government support across the country will result in higher consumption of vaccines for aquaculture.
On the other hand, China aquaculture vaccines market is pegged to strike a 7.3% CAGR through the same timeframe with the mount in the production of tilapia as well as other fish species of economic importance in the region. There is also a rising necessity to safeguard the fish produce from infections of various bacterial and viral diseases.
Growth from R&D and marketing ventures
Providers of various types of aquaculture vaccines are focusing on R&D initiatives to increase their footprint and expand their offerings across the globe. For instance, Merck & Co acquired Antelliq Corporation, an animal health-based digital firm in April 2019 to offer digital solutions towards its animal healthcare.
The ongoing coronavirus pandemic has pushed the need for novel strategic frameworks by these companies to gain a competitive edge over other participants. For instance, Touchlight Genetics, a vaccine manufacturer, partnered with Stonehaven Incubate in September 2020, to launch Touchlight Aquaculture, a joint venture firm that uses advanced technologies from both contributors to develop new vaccines.
Hipra, Zoetis Inc., Tecnovax, Veterquimica S.A., Virbac, and Nisseiken Co. Ltd are some of the other global brands in the aquaculture vaccines market.
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